Warner Bros. Discovery, Inc. financials
Source: EDGAR filings · Built 2026-06-02T04:22:42Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 2.95B | 4.33B | 6.09B | 3.25B | 2.36B | 2.28B |
| EBITDA | 6.42B | -3.00B | 6.44B | -177.00M | 3.59B | 3.87B |
| Working Capital | 706.00M | -1.73B | -1.11B | -1.02B | 3.81B | 3.05B |
| Net Debt | 32.20B | 37.69B | 43.51B | 48.87B | 11.74B | 14.22B |
| Operating Margin | 1.98% | -25.51% | -3.75% | -21.79% | 16.50% | 23.57% |
| Net Margin | 1.95% | -28.77% | -7.57% | -21.80% | 8.25% | 11.42% |
| Return on Equity (ROE) | 2.02% | -33.23% | -6.91% | -15.65% | 8.67% | 11.65% |
| Return on Assets (ROA) | 0.73% | -10.82% | -2.55% | -5.50% | 2.92% | 3.58% |
| Current Ratio | 1.06× | 0.89× | 0.93× | 0.93× | 2.10× | 1.99× |
| Debt-to-Equity | 1.02× | 1.26× | 1.05× | 1.12× | 1.35× | 1.56× |
| Effective Tax Rate | 54.30% | -0.83% | 20.30% | 18.56% | 16.47% | 21.59% |
| Cash Conversion Ratio | 5.94× | -0.48× | -2.39× | -0.58× | 2.78× | 2.25× |
| Accruals Ratio | -0.04× | -0.16× | -0.09× | -0.09× | -0.05× | -0.04× |
| SBC % of Revenue | 2.06% | 1.42% | 1.21% | 1.22% | 1.46% | 1.03% |
| CapEx Coverage | 3.15× | 5.15× | 5.38× | 4.07× | 6.39× | 6.01× |
| Free Cash Flow Per Share | $1.17 | $1.77 | $2.50 | $1.67 | $3.55 | $3.40 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 99.38× | — | — | — | 15.29× | 16.62× |
| P/FCF | 24.73× | 5.98× | 4.55× | 5.66× | 6.62× | 8.86× |
| FCF Yield | 4.04% | 16.73% | 21.96% | 17.66% | 15.10% | 11.29% |
| EV / EBITDA | 16.14× | — | 11.07× | — | 4.37× | 8.89× |
| P/S | 1.92× | 0.66× | 0.67× | 0.68× | 0.33× | 1.89× |
| P/B | 1.99× | 0.76× | 0.61× | 0.49× | 0.34× | 1.93× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 37.30B | 39.32B | 41.32B | 33.82B | 12.19B | 10.67B |
| Selling, General and Administrative Expense | 9.42B | 9.30B | 9.70B | 9.68B | 4.02B | 2.72B |
| Operating Income (Loss) | 738.00M | -10.03B | -1.55B | -7.37B | 2.01B | 2.52B |
| Income Tax Expense (Benefit) | 890.00M | 94.00M | -784.00M | -1.66B | 236.00M | 373.00M |
| Net Income (Loss) Attributable to Parent | 727.00M | -11.31B | -3.13B | -7.37B | 1.01B | 1.22B |
| Earnings Per Share, Basic | $0.29 | $-4.62 | $-1.28 | $-3.82 | $1.55 | $1.82 |
| Weighted Average Number of Shares Outstanding, Basic | 2.48B | 2.45B | 2.44B | 1.94B | 588.00M | 599.00M |
| Earnings Per Share, Diluted | $0.29 | $-4.62 | $-1.28 | $-3.82 | $1.54 | $1.81 |
| Weighted Average Number of Shares Outstanding, Diluted | 2.53B | 2.45B | 2.44B | 1.94B | 664.00M | 672.00M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 4.57B | 5.31B | 3.78B | 3.73B | 3.90B | 2.09B |
| Assets, Current | 13.21B | 14.08B | 14.22B | 14.00B | 7.26B | 6.13B |
| Assets | 100.08B | 104.56B | 122.76B | 134.00B | 34.43B | 34.09B |
| Long-term Debt | 32.57B | 39.51B | 43.67B | 49.00B | 14.76B | 15.40B |
| Liabilities, Current | 12.50B | 15.81B | 15.33B | 15.02B | 3.46B | 3.08B |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | 14.42B | 15.07B |
| Liabilities | 62.92B | 69.62B | 76.28B | 85.33B | 21.03B | 21.70B |
| Stockholders' Equity Attributable to Parent | 35.92B | 34.04B | 45.23B | 47.09B | 11.60B | 10.46B |
| Common Stock, Shares, Outstanding | 2.48B | 2.45B | 2.44B | 2.43B | 169.00M | — |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 4.32B | 5.38B | 7.48B | 4.30B | 2.80B | 2.74B |
| Payments to Acquire Property, Plant, and Equipment | 1.23B | 948.00M | 1.32B | 987.00M | 373.00M | 402.00M |
| Net Cash Provided by (Used in) Investing Activities | -1.18B | -349.00M | -1.26B | 3.52B | -56.00M | -703.00M |
| Net Cash Provided by (Used in) Financing Activities | -4.24B | -3.75B | -5.84B | -7.74B | -853.00M | -1.55B |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -476.00M | 1.38B | 1.71B | 1.00B | 302.00M | 2.43B |
| EBITDA | -1.24B | 1.66B | — | — | 1.51B | 1.80B |
| Working Capital | -4.37B | 706.00M | 899.00M | 571.00M | -2.50B | -1.73B |
| Net Debt | 29.20B | 32.20B | 29.23B | 29.74B | 33.56B | 37.69B |
| Operating Margin | -27.76% | 3.69% | 6.76% | -1.89% | -0.41% | 1.62% |
| Net Margin | -32.79% | -2.66% | -1.64% | 16.10% | -5.05% | -4.93% |
| Return on Equity (ROE) | -8.95% | -0.70% | -0.41% | 4.38% | -1.34% | -1.45% |
| Return on Assets (ROA) | -2.98% | -0.25% | -0.15% | 1.55% | -0.45% | -0.47% |
| Current Ratio | 0.73× | 1.06× | 1.07× | 1.04× | 0.84× | 0.89× |
| Debt-to-Equity | 1.00× | 1.02× | 0.93× | 0.96× | 1.11× | 1.26× |
| Effective Tax Rate | 6.86% | 39.46% | 629.63% | 35.29% | -3.46% | -79.78% |
| Cash Conversion Ratio | 0.07× | -7.16× | -16.99× | 0.97× | -1.22× | -5.50× |
| Accruals Ratio | -0.03× | -0.02× | -0.03× | 0.00× | -0.01× | -0.03× |
| SBC % of Revenue | 1.71% | 2.42% | 5.97% | 3.04% | 1.37% | 1.38% |
| CapEx Coverage | -0.78× | 4.29× | 3.10× | 2.89× | 2.20× | 9.49× |
| Free Cash Flow Per Share | $-0.19 | $0.55 | $0.69 | $0.40 | $0.12 | $0.99 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | 99.38× | 102.79× | 38.20× | — | — |
| P/S | 1.85× | 1.92× | 1.28× | 0.74× | 0.69× | 0.66× |
| P/B | 2.11× | 1.99× | 1.34× | 0.79× | 0.78× | 0.76× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 8.89B | 9.46B | 9.04B | 9.81B | 8.98B | 10.03B |
| Selling, General and Administrative Expense | 2.48B | 2.39B | 2.36B | 2.48B | 2.19B | 2.22B |
| Operating Income (Loss) | -2.47B | 349.00M | 611.00M | -185.00M | -37.00M | 162.00M |
| Income Tax Expense (Benefit) | -214.00M | -161.00M | 170.00M | 866.00M | 15.00M | 284.00M |
| Net Income (Loss) Attributable to Parent | -2.92B | -252.00M | -148.00M | 1.58B | -453.00M | -494.00M |
| Earnings Per Share, Basic | $-1.17 | $-0.11 | $-0.06 | $0.64 | $-0.18 | $-0.20 |
| Weighted Average Number of Shares Outstanding, Basic | 2.49B | 2.48B | 2.48B | 2.48B | 2.46B | 2.45B |
| Earnings Per Share, Diluted | $-1.17 | $-0.10 | $-0.06 | $0.63 | $-0.18 | $-0.20 |
| Weighted Average Number of Shares Outstanding, Diluted | 2.49B | 2.53B | 2.48B | 2.50B | 2.46B | 2.45B |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 3.26B | 4.57B | 4.29B | 4.89B | 3.87B | 5.31B |
| Assets, Current | 11.74B | 13.21B | 13.06B | 13.61B | 12.78B | 14.08B |
| Assets | 97.84B | 100.08B | 100.52B | 101.73B | 101.68B | 104.56B |
| Long-term Debt | 32.47B | 32.57B | 33.52B | 34.63B | 37.43B | 39.51B |
| Liabilities, Current | 16.11B | 12.50B | 12.16B | 13.04B | 15.29B | 15.81B |
| Liabilities | 64.13B | 62.92B | 63.21B | 64.38B | 66.51B | 69.62B |
| Stockholders' Equity Attributable to Parent | 32.58B | 35.92B | 36.02B | 36.05B | 33.84B | 34.04B |
| Common Stock, Shares, Outstanding | 2.51B | 2.48B | 2.48B | 2.48B | 2.47B | 2.45B |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -208.00M | 1.80B | 2.52B | 1.54B | 553.00M | 2.71B |
| Payments to Acquire Property, Plant, and Equipment | 268.00M | 421.00M | 810.00M | 532.00M | 251.00M | 286.00M |
| Net Cash Provided by (Used in) Investing Activities | -282.00M | -418.00M | -761.00M | -431.00M | -195.00M | 6.00M |
| Net Cash Provided by (Used in) Financing Activities | -756.00M | -1.12B | -3.12B | -1.89B | -1.90B | -600.00M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (WBD CIK 0001437107),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
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statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
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For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.